Thick and fast.....

The bad news from the housing market is coming in so fast that it is hard to keep up with it. Here are just a few of the stories that have come through in the last day or so:

Foreclosures at an all time high - According to the Mortgage Bankers Association's most recent data, the proportion of mortgages in the initial stages of foreclosure during the fourth quarter of last year hit its highest in the 37-year history of the association's survey.

Lending conditions are tightening - According to the Federal Reserve's most recent Senior Loan Officers Survey, which the end of last year, domestic banks reported tightening standards on all residential mortgages.

Bankers fear deteriorating asset quality - About 45 percent of bank loan officers in the Fed survey said they expect a deterioration in the quality of the loans, ranging from loans for business investment to commercial real estate loans.